“impact of Structural Imbalances and Policy Measures on Medium Term Performance”
نویسنده
چکیده
To address common structural imbalances and test emerging policy measures of the labor markets in a typical gulf cooperation council country, a prototype “macro-micro” economic model is developed. The model consists of a dynamic computable general equilibrium model that interacts with a labor market submodel and a discrete-event labor allocation computer simulation module. The results of applying the model to the Kuwaiti economy have clearly shown that public labor substitution policy with constrained government spending program would lead to a deterioration of the structural imbalances and a considerable increase in the unemployment rates among nationals, unless an appropriate private sector national labor participation policy is adopted.
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